Fastly FSLY is benefiting from strong enterprise growth, which has been a key growth driver. In the fourth quarter of 2025, it reported record revenues of $172.6 million, representing 23% year-over-year growth, the highest in more than three years.
The growth was largely fueled by the company's enterprise customer base, which accounted for more than 90% of its revenues. Fastly’s enterprise customer count reached 628, showcasing its ability to attract and retain high-value clients.
Fastly’s enterprise metrics remained stable in the fourth quarter of 2025. The Zacks Consensus Estimate for enterprise customer count is pegged at 652 for the quarter, up from 628 in the previous quarter. The consensus mark for enterprise revenues is pegged at $151 million, indicating 12.1% year-over-year growth. The consensus mark for net retention is pegged at 108.75%, lower than 110% reported in the year-ago quarter.
A growing product suite and ecosystem integration are expected to drive platform growth. Fastly is extending its edge capabilities with Next-Gen WAF (Web Application Firewall), Bot Management, API Security (Discovery+Inventory) and Managed Security Services. These tools are designed to support secure, high-speed delivery for performance-sensitive workloads. Partnerships and deeper adoption across accounts like Alphabet $GOOGL, VMware, Shopify $SHOP, Azure and AWS may help support longer-term engagement.
Fastly guided first-quarter 2026 revenues to be between $168 million and $174 million and full-year 2026 revenues in the $700-$720 million range.